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White House releases first broad look at stimulus-funded employment, focusing on $150 billion in spending. But skeptics question the number and quality of the jobs..

Barack_Obama_signs_American_Recovery_and_Reinvestment_Act_of_2009_on_February_17

Based on approximately $150 billion in spending from the $787 billion recovery package, the tally is the first broad, concrete look at the stimulus program’s impact on the economy. The numbers are drawn from 57,000 reports from state and local recipients and include as many as 30,000 jobs from private companies.

The Obama administration continued to maintain that the actual number of jobs created so far is closer to 1 million. The reports did not reflect measures such as tax cuts, boosted unemployment benefits or jobs created indirectly by stimulus spending. A total of $339 billion has been drawn down so far under the American Recovery and Reinvestment Act.

The Obama administration, which says the stimulus plan will ultimately save or create 3.5 million jobs by the end of next year, is expected to announce further details about jobs this Friday afternoon. You can check online on its stimulus data tracker, Recovery.gov, which will allow you to scope in on what jobs were created and where, down to the zip code level.

Although the idealistic view of created or saved jobs is one of America’s top priorities, government officials have acknowledged that the data released today can be a false or fabricated-

“Compiling state and local recipients’ data is an even tougher lift. Though federal officials have been fact-checking the reports for the past three weeks, there are likely to be many mistakes.” Biden acknowledged in a press conference.

“The job numbers are at best going to be a rough outline of how the recovery act is impacting the economy,” said Craig Jennings’ senior policy analyst at OMB Watch, a government watchdog group.

“There will be a lot of discrepancies in the data,” said Dowd. “Those discrepancies will grow significantly, not because of malicious intent but because of the complexity.”

The administration quickly revised the figures downward 10,000 from 650,000 announced early in the morning.. If you divide 640,000 jobs by the $150,000,000,000 apparently spent to create these jobs, each job cost $234,000 to create. Is this a sustainable recovery? What do you think??

For more info on the reports, visit Recovery.gov or the Source for this article

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